DUBLIN--(BUSINESS WIRE)--The "Nanosatellite and Microsatellite Market by Component (Hardware, Software & Data Processing, Launch Services), Type (Nanosatellite and Microsatellite), Application, Vertical (Government, Defense, Civil), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global nanosatellite and microsatellite market size to grow at a CAGR of 19.8% during the forecast period
The global nanosatellite and microsatellite market size is expected to grow from USD 1.5 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. The satellites are used for several applications, such as communication, earth observation and remote sensing, scientific research, biological experiments, academic training, reconnaissance, and various other applications by the defense, intelligence, civil, commercial, and/or government users. Continuous advancements in the miniaturization of technologies, such as electronics; low-mission costs; and the increasing use of satellite constellations are major drivers of the market.
Hardware segment to lead the nanosatellite and microsatellite market in 2019
Hardware is the core of nanosatellites and microsatellites, which are readily available with vendors for easy integration and plug-and-play processes. These hardware contribute to the complete mass of the satellites and based on the weight of these hardware; small satellites are categorized as nanosatellites or microsatellites. The hardware segment includes subsystems, such as payloads, structures, telecommunications, on-board computers, power systems, attitude control systems, and propulsion systems. The growth in this segment is significant with a number of players offering low-cost hardware and manufacturing services.
Earth observation and remote sensing segment to lead the nanosatellite and microsatellite market in 2019
Nanosatellites and microsatellites have brought novel opportunities for earth observation and remote sensing using inexpensive small satellites to capture images of the earth and gather specific data. Nanosatellites and microsatellites are expected to play a major role in remote sensing missions due to their enhanced computational and communication capabilities, along with competencies in taking decisions about the time and data to be shared. Successful programs to develop and examine advanced hyperspectral imaging systems compatible with nanosatellite and microsatellite missions enable small satellites to generate high-quality complex images.
North America to lead the nanosatellite and microsatellite market in 2019
North America leads in the adoption of nanosatellites and microsatellites and provides great opportunities for growth of the overall market. The region has always been an early adopter of new technology or software, and the North American market grows at a faster rate initially as compared to any other region. The demand for nanosatellites and microsatellites in North America is being driven by the booming digitalization across industries along with a surging demand for earth observation satellites, which offer extremely high resolution earth images and videos, as close as 1 meter or less, of the earth's surface.
Key benefits of buying the report:
The report would provide market leaders/new entrants in the nanosatellite and microsatellite market, with information on the closest approximations of the revenue numbers for the overall nanosatellite and microsatellite market and subsegments. The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It further helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Global Nanosatellite and Microsatellite Market
4.2 Global Market By Type and Region
4.3 Market By Region
4.4 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.3 Evolution of Nanosatellite and Microsatellite
5.4 Use Cases
5.5 Impact of Disruptive Technologies
6 Nanosatellite and Microsatellite Market By Component
6.1 Introduction
6.2 Hardware
6.3 Software and Data Processing
6.4 Space Services
6.5 Launch Services
7 Nanosatellite and Microsatellite Market By Type
7.1 Introduction
7.2 Nanosatellite
7.3 Microsatellite
8 Nanosatellite and Microsatellite Market By Application
8.1 Introduction
8.2 Communication
8.3 Earth Observation and Remote Sensing
8.4 Scientific Research
8.5 Biological Experiments
8.6 Technology Demonstration and Verification
8.7 Academic Training
8.8 Mapping and Navigation
8.9 Reconnaissance
9 Nanosatellite and Microsatellite Market By Vertical
9.1 Introduction
9.2 Government
9.3 Civil
9.4 Commercial
9.5 Defense
9.6 Energy and Infrastructure
9.7 Maritime and Transportation
10 Nanosatellite and Microsatellite Market By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Rest of the World
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.3 Innovators
11.2.4 Emerging Companies
11.2.5 Ranking of Key Players
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Partnerships
12 Company Profiles
12.1 Introduction
12.2 Gomspace
12.3 Lockheed Martin
12.4 L3Harris
12.5 Sierra Nevada Corporation
12.6 AAC Clyde Space
12.7 Planet Labs
12.8 Tyvak
12.9 NanoAvionics
12.10 Innovative Solutions in Space
12.11 SpaceQuest
12.12 Raytheon
12.13 RUAG Space
12.14 Surrey Satellite Technology Limited
12.15 Dauria Aerospace
12.16 Axelspace Corporation
12.17 Sky and Space Global
12.18 Kepler
12.19 GAUSS'
12.20 Spaceworks Enterprises
12.21 Berlin Space Technologies
12.22 Right-to-Win
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